You Are Supposed to Receive $2,000 Five Years from Now

question 280

Multiple Choice

You are supposed to receive $2,000 five years from now. At an interest rate of 6%, what is that $2,000 worth today?

• A) $1,491.97
• B) $1,492.43
• C) $1,494.52
• D) $1,497.91
• E) $1,499.01

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Definitions:

Pacific Yew Tree

A species of tree found in the Pacific Northwest of North America, known scientifically as Taxus brevifolia, used in the production of the cancer drug paclitaxel.

Ovarian Cancer

A type of cancer that begins in the ovaries, which are the reproductive glands found only in females.

Painkiller

A drug or substance used to alleviate pain without causing loss of consciousness.

Black Spruce

A species of tree in the pine family, native to northern parts of North America, characterized by its dark, dense foliage and adaptation to cold climates.